All That help: How do I get rid of $35K in credit card debt without all that exorbitant interest? - Help.com

You can call your credit card companies and ask for a lower interest rate, or go through one of those credit counseling places. They can usually negotiate lower interest rates for you. Or you can try filing for bankrupcy.

Thankx

Start by doing a little research to see if you can transfer any of the balances from your cards that have higher interest rates to cards that have lower interest rates. Perhaps talk to a credit consolidation company with a good reputation for working fairly with people in debt.

Once you have consolidated your debt into as few accounts as possible, determine the maximum amount that you can pay toward your debt every month. Pay the minimum payments on all the accounts except for the one with the highest interest rate. For that account, pay whatever you can more than the minimum amount until the debt for that account is completely gone.

For instance, let’s say you can afford to pay $700 toward your credit card debt every month. You have 5 accounts (for the purpose of keeping this relatively simple, let’s say that they all require the same minimum payment: $100). Now each account has the following interest rate:
account A: 20%
account B: 21%
account C: 22%
account D: 23%
account E: 24%

Each month, pay $100 on accounts A, B, C, and D but pay the remaining $300 toward account E until it is completely paid off. Then, once E is paid off, pay $100 per month toward A, B, and C but pay the remaining $400 that you can afford to account D. Keep doing this until you have all accounts paid off and then control your credit card debt by never spending more on your cards per month than you have in your bank account to pay them off at the end of the month.

Now that’s cool!

This is all a big help. Thanks folks.